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- LoopNet Team
2224 Live Oak St
Commerce, TX 75428
The Estates at Commerce · Multifamily Property For Sale
·
128 Units
INVESTMENT HIGHLIGHTS
- Redevelopment Opportunity within walking distance to Texas A&M Commerce University
- Multifamily asset directly across the street is at 99% occupancy
- 7.92 Acres zoned General Business which can accommodate up to 229 units
- Motivated Seller ready to move quickly
PROPERTY FACTS
| No. Units | 128 | Lot Size | 7.53 AC |
| Property Type | Multifamily | Building Size | 90,250 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1976/2016 |
| Building Class | F | Parking Ratio | 3.32/1,000 SF |
| Zoning | A-2 (Apt Dist 2) | ||
| No. Units | 128 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | F |
| Lot Size | 7.53 AC |
| Building Size | 90,250 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1976/2016 |
| Parking Ratio | 3.32/1,000 SF |
| Zoning | A-2 (Apt Dist 2) |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Tub/Shower
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Fitness Center
- Security System
- Tennis Court
- Walk-Up
- Smoke Detector
ABOUT 2224 LIVE OAK ST , COMMERCE, TX 75428
The Multifamily Group is pleased to announce the exclusive listing of 2224 Live Oak, a redevelopment opportunity located 65 northeast of Dallas, in Commerce, Texas. The Seller is highly motivated to sell the asset, as-is. The Property is perfectly located to accommodate multifamily dwelling units, with the comparable multifamily across Live Oak Street, Village Creek, currently achieving 99% Occupancy. The Asset consists of two contiguous parcels totaling 7.919 acres, which are within walking distance (0.25 Miles) of the Texas A&M-Commerce University campus. TAMU Commerce has a total undergraduate enrollment of 8,236 and graduate enrollment of 3,836, with nearly 70% of students living in off campus housing. The University has reported a 3% year over year growth rate since 2010 with enrollment projected to grow to 13,479 by 2025. 2224 Live Oak is zoned General Business and can accommodate up to 229 apartment units. The site is a former eight building apartment complex and the existing improvements consist of six obsolete buildings (two have already been demolished) that will be delivered vacant and as-is. There is known asbestos in the current structures which will need to be abated.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 21 | - | 360 |
| 1+1 | 74 | - | 780 |
| 2+1 | 33 | - | 920 |
PROPERTY TAXES
| Parcel Number | 38679 | Improvements Assessment | $801,040 |
| Land Assessment | $328,050 | Total Assessment | $1,129,090 |
PROPERTY TAXES
